When an Externality Is Present, the Market Equilibrium Is

question 116

Multiple Choice

When an externality is present, the market equilibrium is

• A)efficient, and the equilibrium maximizes the total benefit to society as a whole.
• B)efficient, but the equilibrium does not maximize the total benefit to society as a whole.
• C)inefficient, but the equilibrium maximizes the total benefit to society as a whole.
• D)inefficient, and the equilibrium does not maximize the total benefit to society as a whole.

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Definitions:

Upper Chest

Refers to the region of the body encompassing the upper part of the thorax, including the pectoral muscles, clavicles, and upper ribs.

Cramp

A spasmodic, painful contraction of a muscle or muscles.

Contracted

Engaged by agreement or compact; often refers to muscles shortening during contraction or to formal agreements between parties.

Skeletal Muscles

The muscles attached to bones that are responsible for voluntary movements of the body.